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The Relationship of Pari-mutuel Wagering and Casino Gaming to Personal Bankruptcy


  • Richard Thalheimer,

    1. Thalheimer: Professor, Department of Equine Business, College of Business and Public Administration, University of Louisville, Louisville, KY 40292. Phone 1-859-255-3073, Fax 1-859-254-8103, E-mail
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  • Mukhtar M. Ali

    1. Ali: Professor, Department of Economics, University of Kentucky, Lexington, KY 40506. Phone 1-859-257-7636, Fax 1-859-323-1920, E-mail
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      The authors gratefully acknowledge the helpful comments of Andrew Gill and two anonymous referees.


In this article, the relationship of the availability of pari-mutuel wagering and casino gaming opportunities to personal (nonbusiness) bankruptcy filings is investigated. An econometric model was developed relating the number of personal bankruptcies to sociodemographic, legal, and economic factors. In addition, a unique measure of access to casino and pari-mutuel gaming was included. Population, personal income, age, race, divorce rate, unemployment rate, and the ratio of debt to disposable personal income were found to be significant determinants of personal bankruptcies. Access to pari-mutuel or casino gaming facilities was found not to have a significant impact on personal bankruptcies. (JEL K1, K4, D1, L83)

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